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Holiday period for mortgages...how does this work?
Deals_2
Posts: 2,410 Forumite
thanks in advance.
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depends who you're withHi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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Say if your payments are £500 pcm and you take a 6 month payment holiday then the £3k you don't pay them is added to your mortgage and you pay this off over the term of your mortgage. Good if you need the money to pay of other debts and enabling you to overpay your mortgage but bad if you just want to squander your money.
Well thats the basics as I understand them, but if in doubt do speak to someone more savvy then me
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